Kuwait Elevator And Escalator Market Outlook (2021-2027)
Market Forecast By Types Product (Elevator (Passenger, Cargo, Home), Escalator (Moving Stairways, Moving Walkways)), By Services (Maintenance, Modernization), By Application (Residential, Commercial, Industrial), By Regions (Northern (Abdali, Ar Rawdatayn, Bubiyan), Southern (Al Maqwa, Al Wafrah, Al Ahmadi), Central (Al Jahrah, Al Abraq, Al Farwahniya, Salemy)) And Competitive Landscape
According to 6Wresearch, Kuwait Elevator and Escalator Market size is projected to grow at CAGR of 5.1% during 2021-2027. Kuwait elevator and escalator market is expecting a moderate rise in the coming years, where the expansion in the construction market, upcoming transportation and hospitality sector projects would complement the growth. Further, by types, elevator accounted for the highest share in 2020 due to its wider scope in residential and commercial sectors.
Under the Kuwait National Development Plan 2035 initiative, endeavors are being made to convert the oil-dependent economy of the nation to a non-oil subordinate one. Moreover, in general increased government investing would result in considerable infrastructural advancement over a few divisions of the economy over the coming years. The recuperation in oil costs has also driven the revival of the construction sector within the nation and around 700 projects are right now within the development stage in Kuwait, with a combined esteem of around USD 230 billion. Hence, the elevator and escalator market of Kuwait is anticipated to encounter healthy development during the forecast period.
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Market by Elevator Type Analysis
By types, passenger and home elevators accounted for more than 90% of market revenues, with, home elevators leading the market.
Key Highlights of the Report
Kuwait Elevator and Escalator Market Overview
Kuwait Elevator and Escalator Market Outlook
Kuwait Elevator and Escalator Market Trends
Kuwait Elevator and Escalator Market Size
Market Drivers and Restraints
Market Industry Life Cycle
Porter’s Five Forces Model
Company Profiles
Market Opportunity Assessment
Market Player’s Revenue Shares
Market Competitive Benchmarking
Kuwait Elevator and Escalator Market Forecast
Kuwait Elevator and Escalator Market Share
Key Strategic Recommendations
Historical Data and Forecast of Kuwait Elevator and Escalator Market Revenues for the Period 2017-2027F
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